Greater Hope Ministries Inc
Greater Hope Ministries Inc. shows fluctuating financial health with recent deficit and significant asset decline.
EIN: 202281760 · Philadelphia, PA · NTEE: X20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1.1M |
| Total Expenses | $990K |
| Program Spending | 80% |
| CEO/Top Officer Pay | $1 |
| Net Assets | $-23,726 |
| Transparency Score | 65/100 |
Is Greater Hope Ministries Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Greater Hope Ministries Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Greater Hope Ministries Inc
Greater Hope Ministries Inc (EIN: 202281760) is a nonprofit organization based in Philadelphia, PA, classified under NTEE code X20. The organization reported total revenue of $1.1M and total assets of $135K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Greater Hope Ministries Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Greater Hope Ministries Inc is a mid-size nonprofit that has been operating for 12 years, with 12 years of IRS 990 filings on record (2012–2024). Revenue has grown at a compound annual rate of 8.2%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $943K |
| Total Expenses | $990K |
| Surplus / Deficit | $-47,675 |
| Total Assets | $7K |
| Total Liabilities | $30K |
| Net Assets | $-23,726 |
| Operating Margin | -5.1% |
| Debt-to-Asset Ratio | 451.6% |
| Months of Reserves | 0.1 months |
Financial Health Grade: D
In 2024, Greater Hope Ministries Inc reported a deficit of $48K with expenses exceeding revenue, holds 0.1 months of operating reserves (limited), has a debt-to-asset ratio of 451.6% (high leverage).
Financial Trends
Over 12 years of filings (2012–2024), Greater Hope Ministries Inc's revenue has grown at a compound annual growth rate (CAGR) of 8.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | +17.7% | +40.9% | -98.5% |
| 2023 | -17.6% | -14.2% | +5.2% |
| 2022 | +31.8% | +12.5% | +40.5% |
| 2021 | +20.1% | +20.0% | +4.2% |
| 2020 | -10.6% | -11.1% | +6.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 7000 |
| IRS Ruling Date | 2014 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Greater Hope Ministries Inc with a Mission Score of 65 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Greater Hope Ministries Inc allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $48K, with expenses exceeding revenue.
- Debt-to-asset ratio: 451.6%.
Executive Compensation Analysis
Greater Hope Ministries Inc. consistently reports 0% officer compensation across all 12 available filing periods, indicating that no salaries or other compensation are paid to its officers, which is highly unusual for an organization with over $1 million in revenue.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Greater Hope Ministries Inc's IRS 990 filings:
- Significant and unexplained asset decline from $458,645 to $6,748 between 202303 and 202403.
- Expenses exceeding revenue in the latest filing period (202403), indicating a deficit.
- Fluctuating financial performance with periods of both surplus and deficit.
- Increase in liabilities from $0 to $30,474 in the most recent filing period (202403).
Strengths
The following positive indicators were identified for Greater Hope Ministries Inc:
- Consistent filing of IRS Form 990s over 12 periods, indicating good compliance.
- Consistently reports 0% officer compensation, suggesting volunteer leadership or highly efficient executive cost management.
- Generally strong revenue generation, exceeding $1 million in the latest available data.
Frequently Asked Questions about Greater Hope Ministries Inc
Is Greater Hope Ministries Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Greater Hope Ministries Inc (EIN: 202281760) some concerns. Mission Score: 65/100. 4 red flags identified, 3 strengths noted.
How does Greater Hope Ministries Inc spend its money?
Greater Hope Ministries Inc directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Greater Hope Ministries Inc tax-deductible?
Greater Hope Ministries Inc is registered as a tax-exempt nonprofit (EIN: 202281760). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Greater Hope Ministries Inc CEO make?
Greater Hope Ministries Inc's highest-compensated officer earns $1 annually. The organization reported $1.1M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Greater Hope Ministries Inc's spending goes to programs?
Greater Hope Ministries Inc directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Greater Hope Ministries Inc compare to similar nonprofits?
With a transparency score of 65/100 (Good), Greater Hope Ministries Inc is above average for NTEE category X20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Greater Hope Ministries Inc located?
Greater Hope Ministries Inc is headquartered in Philadelphia, Pennsylvania and files with the IRS under EIN 202281760. It is classified under NTEE code X20.
How many years of IRS 990 filings does Greater Hope Ministries Inc have?
Greater Hope Ministries Inc has 12 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $1.1M in total revenue.
Why did Greater Hope Ministries Inc.'s assets drop from $458,645 in 202303 to $6,748 in 202403?
The provided data does not specify the reason for this drastic reduction in assets. It could be due to significant capital expenditures, debt repayment, or other financial activities not detailed in the summary.
What caused the deficit in the 202403 period, where expenses ($990,263) exceeded revenue ($942,588)?
The specific reasons for the deficit are not provided in the summary data. It indicates that the organization spent more than it earned in that fiscal year, potentially drawing from reserves or incurring new liabilities.
How does Greater Hope Ministries Inc. operate without paying any officer compensation, given its revenue levels?
The consistent reporting of 0% officer compensation suggests that leadership may be entirely volunteer-based or compensated through other means not classified as officer compensation on the 990, which is uncommon for an organization of this size.
What is the nature of the liabilities reported in 202403 ($30,474) and 202203 ($97,081)?
The summary data does not detail the nature of these liabilities. Understanding whether they are short-term operational debts, loans, or other obligations would provide more insight into the organization's financial stability.
Filing History
IRS 990 filing history for Greater Hope Ministries Inc showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2012–2024), Greater Hope Ministries Inc's revenue has grown by 157.7%, moving from $366K to $943K. Total assets decreased by 97.2% over the same period, from $241K to $7K. Total functional expenses rose by 323.5%, from $234K to $990K. In its most recent filing year (2024), Greater Hope Ministries Inc reported a deficit of $48K, with expenses exceeding revenue. The organization holds $30K in liabilities against $7K in assets (debt-to-asset ratio: 451.6%), resulting in net assets of $-23,726.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $943K | $990K | $7K | $30K | — | View 990 |
| 2023 | $801K | $703K | $459K | $0 | — | View 990 |
| 2022 | $972K | $820K | $436K | $97K | — | View 990 |
| 2021 | $737K | $729K | $310K | $16K | — | View 990 |
| 2020 | $614K | $607K | $298K | $12K | — | View 990 |
| 2019 | $686K | $683K | $279K | $0 | — | View 990 |
| 2018 | $476K | $473K | $275K | $0 | — | View 990 |
| 2016 | $635K | $629K | $272K | $0 | — | View 990 |
| 2015 | $136K | $108K | $290K | $0 | — | View 990 |
| 2014 | $171K | $152K | $263K | $0 | — | View 990 |
| 2013 | $425K | $393K | $62K | $0 | — | View 990 |
| 2012 | $366K | $234K | $241K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $943K, expenses of $990K, and assets of $7K (revenue +17.7% year-over-year).
- 2023: Revenue of $801K, expenses of $703K, and assets of $459K (revenue -17.6% year-over-year).
- 2022: Revenue of $972K, expenses of $820K, and assets of $436K (revenue +31.8% year-over-year).
- 2021: Revenue of $737K, expenses of $729K, and assets of $310K (revenue +20.1% year-over-year).
- 2020: Revenue of $614K, expenses of $607K, and assets of $298K (revenue -10.6% year-over-year).
- 2019: Revenue of $686K, expenses of $683K, and assets of $279K (revenue +44.1% year-over-year).
- 2018: Revenue of $476K, expenses of $473K, and assets of $275K (revenue -25.0% year-over-year).
- 2016: Revenue of $635K, expenses of $629K, and assets of $272K (revenue +369.0% year-over-year).
- 2015: Revenue of $136K, expenses of $108K, and assets of $290K (revenue -20.6% year-over-year).
- 2014: Revenue of $171K, expenses of $152K, and assets of $263K (revenue -59.9% year-over-year).
- 2013: Revenue of $425K, expenses of $393K, and assets of $62K (revenue +16.2% year-over-year).
- 2012: Revenue of $366K, expenses of $234K, and assets of $241K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Greater Hope Ministries Inc:
Data Sources and Methodology
This transparency report for Greater Hope Ministries Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.